As voters head to the polls on November 6, one item may be causing a little déjà vu. Amendment W, an amendment that covers campaign finance reform and government accountability – among a whole host of other things, is a revised version of IM 22 originally voted on in 2016. Voters may remember that IM22 was overruled by the 2017 South Dakota legislature because of 15 different areas that were likely unconstitutional.
Farmers from across the country anxiously awaited Ag Secretary Sonny Perdue’s detailed aid package earlier this week. For South Dakota Soybean Association (SDSA) the announcement was met with appreciation, yet caution. The $1.65 per bushel payment outlined for 50 percent of soybean production was by far the highest payment for any commodity. Now, South Dakota soybean leaders, Brandon Wipf and Jerry Schmitz are focused on what comes next.
Trade has long been an important part of soybean farmer profitability in South Dakota. In fact, South Dakota is one of the top 10 soybean exporting states in the country, totaling $1.3 billion in soybean exports annually.
In response to the announcement of U.S. tariffs on Chinese imports, the American Soybean Association (ASA), the U.S. Soybean Export Council (USSEC) and the United Soybean Board (USB) release the following statements.
The South Dakota Soybean Association (SDSA) joins the American Soybean Association (ASA) in calling on President Trump to reconsider Chinese tariffs which have caused soybean markets to drop nearly 40 cents a bushel this morning.
Following reports from Commerce Secretary Wilbur Ross that the department will recommend tariffs on imported steel and aluminum as a result of its ongoing investigation under Section 232 of the Trade Expansion Act of 1962, soybean farmers have voiced their concern about the potential for retaliation against U.S. soybean imports by the Chinese.